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How to allocate money to mutual funds to make Rs 75 lakh in 15 years?

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ET Online|
Dec 10, 2019, 03.10 PM IST
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I am 35 years old. I have a moderate risk profile. I want to make Rs 75 lakh in 15 years for my child’s education by investing Rs 13,000 per month. How should I allocate my funds to have maximum chance of reaching this target?
-- Kamalkant Singh

You should always allocate your resources based on your goals, investment horizon, and risk profile. Since you are investing for a long-term goal, you may consider investing in equity mutual funds. Equity investors with a moderate risk profile may consider investing in multi cap mutual funds. Here are our recommended multi cap mutual fund schemes: Best multi cap mutual funds to invest in 2019

Assuming an annual return of 12%, you can create a corpus of Rs 65.6 lakh in 15 years by investing Rs 13,000 per month. A warning: do not choose random figures to meet your long-term financial goals. Always work with real numbers, inflation, and taxes to calculate a realistic target and regular investments needed to create it.

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